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Absa Group scales up community support initiatives in face of COVID-19

The award was made in recognition of Absa’s role in the Absa Cybersecurity Academy that provides marginalised youth with the opportunity to become certified cybersecurity specialists.

The Absa Purchasing Managers’ Index (PMI) ticked up further to 58.3 index points in September. The shift to a lower lockdown level mid-month likely drove the further improvement in business

Absa Group Ltd. today reported an 82% decline in normalised interim earnings after impairments increased four-fold to R14.7 billion. Impairment charges rose as customers and clients struggled to repay debt and as the Group took decisive action to increase impairment provisions against future potential credit losses

The Absa Purchasing Managers’ Index (PMI) posted a robust increase to 57.3 index points in August, up from 51.2 in July.

Absa collaborates with Epic ERP and AJS to offer digital solutions that help clients run a secure and efficient business.

Absa Group’s cybersecurity team has been shortlisted in three categories in the 2020 Cyber Security Awards.

Absa’s PMI for July declined to 51.2 index points from 53.9 points in June, but continued to signal a month-on-month improvement in the manufacturing sector.

CDC Group, the UK’s development finance institution and impact investor, has today announced an additional US$75 million commitment to its existing trade finance facility with Absa Bank. The investment will provide systemic liquidity across CDC’s African markets and enable local banks to sustain the availability of trade finance, supporting supply chains during the COVID-19 crisis.

The Absa Purchasing Managers’ Index (PMI) for June showed that conditions continued to improve in the South African manufacturing sector